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V13 2010 INDEX       E-SYLUM ARCHIVE

The E-Sylum: Volume 13, Number 33, August 15, 2010, Article 22

HEAD OF BANKNOTE FIRM DE LA RUE RESIGNS OVER PAPER QUALITY

Last month we reported that the banknote firm De La Rue had shut one of its papermaking plants because of issues with product quality. It's a BIG problem for the company. So big, that the head of the company has resigned. -Editor

UK Banknotes De La Rue's chief executive, James Hussey, resigned following a warning from the world's biggest printer of bank notes that sales would be hit by quality problems at one of its paper factories.

Last month, De La Rue, which makes banknote paper for more than 150 world currencies, warned that sales this year and in 2011 would be "materially lower" than expected after it suspended production at its paper factory in Overton, Hampshire for failing to meet quality standards.

"Mr Hussey's decision to resign follows the company's statement on 20 July 2010 in relation to certain quality and production irregularities at one of its paper production facilities and his belief that he must take responsibility for this," De La Rue said.

"The company continues to look into these irregularities in one of its paper production facilities, which the board considers to be of a serious nature."

To read the complete article, see: De La Rue chief executive James Hussey resigns over paper quality problems (www.telegraph.co.uk/finance/newsbysector/epic/
dlar/7940314/De-La-Rue-chief-executive-
James-Hussey-resigns-over-paper-quality-problems.html)

To read the earlier E-Sylum article, see: BANKNOTE PRINTER DE LA RUE HALTS PRODUCTION OVER PAPER QUALITY (www.coinbooks.org/esylum_v13n30a23.html)

Wayne Homren, Editor

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To submit items for publication in The E-Sylum, write to the Editor at this address: whomren@gmail.com

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